The hole is intentional. Remove the plastic the first time you use it, and it allows the moisture to escape when you are done so it prevents the rust. It is on mink oil and saddle soap cans as well.
polished but only with cream polishes. the conditioner and cream polish, if you're getting the good stuff, has enough waxes already in them to treat your leather and make it good for use in water, you should not need to add a hard wax polish to water-resist your leather. btw, kiwi is not the good stuff
